Just released residential permit statistics again show that the region’s residential construction market continues to strengthen. The number of permits issued are at a 12-month high, while planned units in June were up by 64 percent over June of 2012. As has been the case all year, year-to-date planned units remain at their highest level since 2007.
According to data compiled by the Keystone Report for the Builders Association of the Twin Cities (BATC), there were 496 permits for a total of 912 units during the four weeks in the month of June, 2013. Year-to-date, cities issued 2,379 permits for a total of 4,204 units.
“As the year progresses, evidence continues to grow that the housing market is truly rebounding across the region.” said Pamela Belz, Builders Association of the Twin Cities 2013 president and developer with Senior Housing Partners. “And growth is happening in spite of both a labor shortage and delays caused by the out-of-the-ordinary weather we’ve had.
“The long winter kept road restrictions on longer than usual, and now the rain is saturating the ground and delaying foundations from going in across the metro,” Belz said.
Minneapolis once again led the top five cities permitting 380 units in June. Brooklyn Park joined Woodbury in second position with 31 units, followed by Ramsey with 29. Blaine, Chanhassen and Lakeville tied for fifth place with 23 units permitted each.